Through the relationship between a banker and his customer is mainly that of a debtor and creditors.
The relationship differs from similar relationship arising out of ordinary commercial debt in following aspects:
The creditor must demand payment
In case of ordinary commercial debt, the debtor pays the amount on the specified date or earlier or whenever demanded by the creditors as per the terms of the contract.
But in case of the deposit in the bank, the debtor is not required repay the amount on his own account. It is essential that the depositor must make a demand for the payment of the deposit in the proper manner.
Proper place and time of demand
commercial bank may have a number of branches but the depositor demanded for the repayment of his deposit must be made at the name of same branches with which he entered into relationship.
Otherwise banker is not bound to honor his commitment. It is also essential that the demand must be made during banking hours as a working of the bank.
Demand must be made in proper manner
According to the statutory definition of banking deposit are withdraw able by cheque, draft, and order.
It means that the demand for the refund of money deposit must be made through cheque or an order as the common wage amongst the banker in a proper manner where as in case of commercial bank there are no such obligations.